DCRUSD trade ideas
Will The Wedge Hold Its Ground? (DCR)Cryptocurrency: Decred
Circulating supply: 11 million coins
Max supply: 21 million coins
Sort of like it's big brother bitcoin
90 million daily volume
146 million market cap
Current price: $12.81
All time high: $129.37
Squeeeeeeeezeeeeee itttttttttttt.
Is the wedgie done and ready to snap?
Btc pair shows a little bit more of downside to touch bottom again.
Could be a nice setup.
Good luck.
$DCR/USD monthly looking amazingIf we break out with volume we will be in for one hell of a ride since we have been consolidating for years...
DCR AccumulationThe repression of DCR's break out will soon subside.
- We note two large daily wicks towards ~23.875
- Liquidity on the books will soon be unable to hold. As a result we begin to see large daily wicks as the sell side is lifted without
liquidity to back the price stall.
- With over 50% of the circulation locked up in staking, the upside pressure will soon take over as sell side demand continues to with.
I will keep an eye on:
i) Liquidity zone between 23.875 - 25.805
iii) With a substantial break, DCR has the open road to push towards $30
Will monitor this actively as accumulation continues.
If we make a substantial move down, I will most likely look to continue getting long.
DCR Not Quite ThereRecent price action looks to be a continuation of trend on DCR. The 38 has been holding up pretty well so far, with only a wick below. Struggling to see this hold though. I'd be looking for price to visit the 50 within the next couple of months.
IF price makes it to the 50, I'd consider it a great op to get long. Against BTC there was a decent reaction at a previous support level, but looks like we could see a final leg down before a mark-up.
Note, the points made above are simply observations that could very well turn out to be 100% incorrect.
DCR/USD Posted this on twitter a while back and the triangle is testing the upper range, if it breaks we will retest then consolidate and then blow through to test ATH.
Decred Price Analysis: Breakout AttemptDecred buyers are attempting to rally price above the psychological $20.00 resistance level, following a strong reversal from the $17.50 level earlier this week.
The DCR/USD pair has rallied by over 30 percent from its November price low and is currently trading around 10 percent above its December price low.
Technical analysis shows that the DCR/USD pair is trapped within a large triangle pattern on the daily time frame. A break above the top of the triangle pattern, around the $20.00 level, could provoke a strong upside move.
If a bullish technical breakout takes place, the $24.00 level appears to be the likely target. The DCR/USD pair’s 200-day moving average is converging with the neckline of a head and shoulders pattern around this area.
The four-hour time frame shows that a bearish rising wedge pattern has formed. A break under the wedge could force the DCR/USD pair back towards the November monthly low.
The DCR/USD pair is also creating bullish higher lows and moving against the broader cryptocurrency market, which is indeed a positive development.
The Relative Strength Index on the daily time frame is bullish, while the MACD indicator is close to issuing a buy signal.
According to the latest sentiment data from The TIE, the short-term sentiment towards Decred is neutral at 47 percent, while the overall long-term sentiment towards the cryptocurrency is bearish at 36 percent.
DCR/USD Daily Chart by TradingView
Upside Potential
The four-hour time frame shows that key technical resistance is now located at the $20.00 and $24.00 levels.
Key technical resistance over the medium-term is located at the $29.00 and $35.00 levels.
Downside Potential
The four-hour time frame is showing that the DCR/USD pair has strong medium-term technical support around the $17.50 and $15.00 levels.
Critical long-term technical support for Decred is located at the $12.00 support level.
Summary
Decred is moving against the broader market downtrend and attempting to force a short-term breakout above the $20.00 level.
The DCR/USD pair could rally towards the $24.00 resistance level if a bullish breakout takes place.
There is a trading opportunity to buy in DCRUSDTechnical analysis:
. DECRED/USDollar is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 65.
.The RSI downtrend & The price downtrend in the daily chart are broken, so the probability of the resumption of an uptrend is increased.
Trading suggestion:
. There is a possibility of temporary retracement to suggested support zone (18.25000000 to 12.25000000). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Beginning of entry zone (18.25000000)
Ending of entry zone (12.25000000)
Entry signal:
Signal to enter the market occurs when the price comes to " Buy zone " then forms one of the reversal patterns, whether " Bullish Engulfing ", " Hammer " or " Valley " in other words, NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone. To learn more about " Entry signal " and the special version of our " Price Action " strategy FOLLOW our lessons :
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There is a trading opportunity to buy in DCRUSDTechnical analysis:
. DECRED/USDollar is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 65.
.The RSI downtrend & The price downtrend in the daily chart are broken, so the probability of the resumption of an uptrend is increased.
Trading suggestion:
. There is a possibility of temporary retracement to suggested support zone (18.25000000 to 12.25000000). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Beginning of entry zone (18.25000000)
Ending of entry zone (12.25000000)
Entry signal:
Signal to enter the market occurs when the price comes to " Buy zone " then forms one of the reversal patterns, whether " Bullish Engulfing ", " Hammer " or " Valley " in other words, NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone. To learn more about " Entry signal " and the special version of our " Price Action " strategy FOLLOW our lessons :
Take Profits:
TP1= @ 25.00000000
TP2= @ 32.00000000
TP3= @ 40.00000000
TP4= @ 57.25000000
TP5= @ 71.20000000
TP6= @ 85.00000000
TP7= @ 104.85000000
TP8= @ 130.00000000
TP9= Free
Decred Price Analysis DCR / USD: Bullish ReversalDecred has been on the rise since Chinese President Xi Jinping’s positive comments towards blockchain and cryptocurrencies, with the DCR / USD pair exploding by around 100% from its 2019 trading low.
The powerful rally has changed the short-term, but not the medium-term outlook for Decred, after the cryptocurrency previously suffered four consecutive months of heavy downside losses.
On a monthly basis the DCR / USD pair has added over thirty-five percent in value and has recently formed a large inverted head and shoulders pattern on the lower time frames.
The bullish inverted head and shoulder pattern shows that if DCR / USD buyers can secure a sustained breakout above the $23.50 resistance level, the cryptocurrency could add a further fifty percent to its trading value.
The daily time frame is showing that the DCR / USD pair is now consolidating in between its 50 and 200-day moving averages, which highly suggests that a medium-term directional breakout is on the horizon.
The daily time frame shows that a descending triangle pattern has formed, with the top of the triangle currently located around the $30.50 resistance level.
Interestingly, the DCR / USD pair’s 200-day moving average is currently located around the $24.50, which is slightly above the neckline of the bullish inverted head and shoulders pattern on the four-hour time frame.
In theory, a rally of around twenty-five percent could occur if buyers force a breakout above the 200-day moving and test towards the top of the descending triangle pattern.
According to the latest sentiment data from TheTIE.io, the short-term sentiment towards Decred is neutral, at 49.00 %, while the overall long-term sentiment towards the cryptocurrency is also bearish, at 33.00%.
DCR / USD Daily Chart by TradingView
Upside Potential
The four-hour time frame shows that a large inverted head and shoulders pattern has formed, with the $23.50 level acting as the neckline of the bullish pattern.
Key technical resistance for the DCR / USD pair above the bullish pattern is currently located at the $24.50 and the $30.50 levels.
Downside Potential
The four-hour time frame is showing that the DCR / USD pair’s 50-period moving average is currently providing the strongest form of short-term technical support, around the $19.50 level.
The daily time frame shows that the DCR / USD pair’s 50-day moving average, located at the $16.50 level, is the strongest form of medium-term support if a deeper decline under the $19.50 level occurs.
Summary
Decred has had a stunning move higher over the last few weeks, placing the cryptocurrency in an attractive technical position.
Continued gains above the $24.50 level could propel the DCR / USD towards the $30.00 level and possibly even higher.
Decred Price Analysis DCR / USD: Bright FutureFundamental Analysis
Decred has gained bullish momentum after Coinbase announced that it is considering to add Decred and other 7 tokens to its platform. If listed on Coinbase, the project can get additional liquidity which will attract more investors and users to its network.
Decred / USD Short-term price analysis
Decred has a bearish short-term outlook, with the cryptocurrency advancing above key technical resistance on the four-hour time frame.
The four-hour time frame shows that DCR / USD bulls are working hard to invalidate a large head and shoulders pattern that has been in play since May this year.
Technical indicators are bullish across the four-hour time frame and continue to issue a buy signal.
Pattern Watch
Traders should note that a complex head and shoulders pattern will start to form on the four-hour time frame if DCR / USD bulls fail to invalidate the bearish pattern.
Relative Strength Index
The Relative Strength Index is bullish on the four-hour time frame, although it is approaching overbought territory.
MACD Indicator
The MACD indicator has turned bullish on the four-hour time frame and is now issuing a strong buy signal.
Decred / USD Medium-term price analysis
Decred has a bullish medium-term outlook, with the cryptocurrency bouncing sharply from its trend defining 200-period moving average.
The daily time frame shows that an extremely large inverted head and shoulders pattern will start to form if DCR / USD bulls move price above the current 2019 trading high.
Technical indicators are bullish on the four-hour time frame and continue to issue buy signals.
DCR / USD Daily Chart by TradingView
Pattern Watch
It is worth noting that a bearish head and shoulders pattern is also present across the daily time frame.
Relative Strength Index
The RSI indicator has turned bullish on the daily time frame and continues to issue a buy signal.
MACD Indicator
The MACD indicator is bullish on the daily time frame and continues to issue a buy signal.
Conclusion
Decred could post substantial upside gains if bulls can continue to advance the cryptocurrency and invalidate the bearish pattern on the four-hour time frame.
The daily time frame shows that a huge inverted head and shoulders pattern could start to form if the DCR / USD pair lifts above the best levels of the year so far.
Decred Price Analysis DCR / USD: Relying On MiraclesDecred / USD Short-term price analysis
Decred has a bearish short-term outlook, with the cryptocurrency trading below critical resistance on the four-hour time frame.
The four-hour time frame shows that a bearish head and shoulders pattern has been triggered, with the DCR / USD pair trading below key neckline resistance.
Technical indicators are mixed across the four-hour time frame and are currently failing to generate a clear trading signal.
Pattern Watch
Traders should note that the DCR / USD pair could see substantial losses if the head and shoulders pattern on the four-hour time frame reaches its full downside potential.
Relative Strength Index
The Relative Strength indicator is attempting to correct higher on the four-hour time frame, although it remains technically bearish.
MACD Indicator
The MACD indicator is starting to turn bullish on the four-hour time frame, although the buy signal is still fairly weak.
Decred / USD Medium-term price analysis
Decred has a bearish medium-term outlook, with the cryptocurrency repeatedly unable to recover the heavy losses incurred during late 2018.
The daily time frame shows that the 61.8 percent Fibonacci retracement of the October 23rd swing-high to the December 2018 trading low has continued to cap any meaningful recoveries in the DCR / USD pair.
Technical indicators are resoundingly bearish on the daily time frame and continue to issue sell signals.
DCR / USD Daily Chart by TradingView
Pattern Watch
With the absence of any bullish pattern the DCR / USD pair may continue to drift lower over the medium-term.
Relative Strength Index
The RSI indicator remains bearish on the daily time frame and continues to highlight growing bearish pressure over the medium-term.
MACD Indicator
The MACD indicator is bearish on the daily time frame and continues to issue a sell signal.
Conclusion
Decred is likely to come under increasing downside pressure over the short-term while price continues to trade below neckline resistance.
With the absence of any bullish patterns on the daily time frame the cryptocurrency needs a positive fundamental catalyst to change the increasingly bearish medium-term picture.
Decred: it was not named BitcoinSuite by chance!In the first half of 2019, investors in crypto-currencies returned to fundamentals:
The market speaks for itself about altcoins which are mostly empty shells.
In 2019, obviously the market is not mistaken and plebicite essentially, not to say exclusively, the only cryptocurrencies that have the characteristics of RESERVES OF VALUE: Bitcoin and Litecoin.
If we could talk about digital gold for Bitcoin and digital silver for Litecoin, I'm wondering for some time what would prevent creating new Bitcoin with the same characteristics of value reserve, deflation, with a well-defined max supply (21 Millions for Bitcoin), always with the security guarantee of the Proof of Work (POW) but less centralized in the hands of some minors, less energy consuming, with slower transactions...
And to this question, after days and days of research, I found only one coin that meets all these ideal criteria: it was named "Bitcoin Suite", it is also limited to 21 Million units, but with decentralized governance (complementary voting system) in opposition to the centralization of minors on Bitcoin, transactions twice as fast (5 minutes instead of 10), much more secure by comparing to marketcap equal, all thanks to a hybrid POW + POS for the best of both worlds... and this cryptocurrency is called since 2016: DECRED!
$DCRDCR could be ready to start a run. Alt moves may be selective and this is one that looks to have bottomed
Someone is buying your dcr with 205% off (:Decred top 1 in decentralized governance, has LN already in mainnet, atomicswap, DEX, etc
Fulfilled Request for Decred/USD PublicationThis is labeled "Short" to prepare you for a reversal SOON to come back down to test support. We still have upward pressure at the moment but still expect us to reverse to downward pressure soon. This appears to be nearing the close of the peak of a Simple Rally in Phase B. Which means we may soon reverse to downward pressure to come back down and test support. I'll provide other charts soon to show what I mean by "Peak of Simple Rally in Phase B and about to turn back down to test "support" in Phase B."
Decred $ DCRUSD Long Term TrendHere is DCR, just looking at some historical ranges and trend lines. I think DCR charts better in USD than BTC, and I don't think DCR has much correlation to BTC price movements, other than getting dragged down each time. However, BTC is still the boss of alts, so I like to see both USD and BTC pairs charted.
I think DCR is at a critical junction from a pure TA perspective. It could drop to $25 from here, but I also think it will hold the .006 trend against BTC. If the 2 are at all related, then BTC goes down in USD while DCR goes sideways in BTC terms, and down in USD terms. I think that possibility is likely, and it satisfies both charts pretty well.
I think most alts are tied to BTC movement, so fitting an alt to USD and BTC prices makes sense. I don't think BTC movement is tied to alt movement, so this is a difficult and very subjective analysis.
I like the Decred fundamentals and the stake/voting rewards make holding DCR a good long term option once it find the floor on USD terms. I think of it like a 4-week T-bill in a way.
